Abstract
PurposeThe purpose of this paper is to analyze the feasibility and challenges of one open training model in family‐owned companies' offspring education, regarded as CHINT's prodigal fund.Design/methodology/approachThe paper is currently confined to literature and case study on CHINT's prodigal fund and is primarily based on the documents analysis and interviews with the members from the board of supervisors and the board of directors.FindingsThe relationship between the performance of venture capital fund and the succession was analyzed. It is found that the two main reasons affecting the development of prodigal fund are the unsystematically organization of fund development and the lack of diligence. Finally, to attract and motivate the use of family venture funds and to establish a sound governance mechanism will be the two chief areas to promote the development of family funds.Originality/valueIt is the first attempt to analyze and summarize this creative practice in succession – family venture fund. The case study provides a valuable perspective on educating the entrepreneurial spirit of innovation and exploration.
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